This is a chart I created to make bidding as simple as possible. Column A is the resale price. Column F is the max offer price before I deduct for repairs. Ideally you would take this chart and your property info sheet (knowing the estimated resale value) to the property and be able to make a verbal offer on the spot after you determine the scope of work. This is setup for conservative expenses in CA but can be reworked to match any states purchase and resale costs as well as your expected return. Staying within these numbers will (hopefully) keep you from losing money and baring disaster make a decent profit. Note: We are being MUCH more aggressive than this in CA right now.